PATHETIC. Fox News Further Clowns Themselves Into Irrelevancy
Fair and balanced? Nah.Read More »
The U.S. income tax code is infamous for its complexity (think special interest lobbyists), and its “progressive” nature—named not for the fact that it increases with increasing income but rather, because it was the brainchild of the Progressive party that is now called the Democratic Party. In that sense, maybe we should call it the “Democratic Party Income Tax”.
However, let’s assume that there are six different people standing in line to buy groceries. They all buy precisely the same things, and the cash register total comes out to $100 even, no sales tax included since the goods are food. All five dutifully plop down their cash, debit or credit cards, write a check, or hand over a “Lone Star” card.
Seems fair enough—NOT!
What has really happened is that a huge deception has crept into our economy—that deceives most of us since the Democratic Party Income Tax is withheld from most paychecks, and we get used to it—sort of.
What has really happened is that each of the six people in line has paid a drastically different price for the exact same items in terms of the fruit of their labor.
Imagine that this Democratic Party Income Tax (i.e. progressive) is applied at the checkout counter instead of at the payroll department. In other words here is the REAL cost of your shopping cart in BEFORE tax dollars, greatly simplified.
For those in a zero income tax rate, all is transparent. It costs them $100 in pre-tax labor to pay for the $100 grocery bill.
For those in the 15% income tax bracket, it will cost more than $100 in pre-tax dollars, since their tax is now paid at the checkout cashier. $117.65 for those exact same items the first person in line spent $100 for. Fair?
The next in line is in the 28% bracket. Their total comes to $138.89 pre-tax earnings for that same basket of groceries. Do you still think our system is fair?
Similarly, those in the 31% bracket must fork out nearly $144.93 to buy the exact same products. Is this making things fairer?
Then there are the “complications” that cause some to pay 39% or more for their tax brackets, causing the $100 food cart to cost a whopping $163.93. Fair? Why is their labor worth less at the grocery store than others? Why do they have to earn more to buy the same thing?
Don’t even think about what you are REALLY paying for gasoline—it will make your blood boil.
For those using taxpayer funded Lone Star cards, theirs is paid for by the forced labor of others. Fair enough for you?
There is absolutely nothing “fair” about the current Democratic Party Income Tax structure, and it is made even worse by loopholes for politically connected friends of Democrats like Warren Buffet and General Electric.